Parknav, a client of the Illinois Small Business Development Center at the Chicagoland Chamber of Commerce, won the SXSW Accelerator pitch competition in the Enterprise and Smart Data category.

The startup was selected from over 470 companies to present at the eighth annual SXSW Accelerator in Austin on March 12 and 13 for six different categories – Enterprise and Smart Data, Entertainment and Content, Health and Wearable, Innovative World, Payment and FinTech, and Virtual Reality.

One of 18 companies to present in the final round of the competition, Parknav was named “most innovative online technology” in the Enterprise and Smart Data category, winning a grand prize of $4,000.

In its own words, Parknav is “the most advanced real-time predictive on-street parking solution available.”

The application uses a color-coded system to help customers predict how likely it may be to find a parking spot on a given street – bright green being most likely, and red being least likely. Parknav has been optimized for a number of industries, from automotive to real estate.

With the ability to integrate on-street parking data into the on-board navigation system of a car, Parknav has increased ease of navigation throughout more than 70 cities across the United States and Germany, saving thousands of drivers from driving around in circles.   

Click here to view the full list of winners of the SXSW Accelerator pitch competition.